Equity and Cost Method Businesses

Equity Method Businesses

The following unaudited summarized financial information relates to, and has been compiled from the financial statements of, Actua’s businesses accounted for under the equity method of accounting as of December 31, 2014. During the nine months ended September 30, 2015, Actua received a loan repayment from Acquirgy, Inc. (“Acquirgy”) in the amount of $0.4 million. Acquirgy is winding down its operations, and Actua does not expect to receive any proceeds in connection with the wind-down.

Balance Sheets (Unaudited)



	December 31, 2014 (1)
	December 31, 2014 (1)
	(in thousands)

Cash and cash equivalents	$	4,514
Other current assets	800
Non-current assets	67
Total assets	$	5,381


Current liabilities (including current portion of long-term debt)	$	9,370
Non-current liabilities	54
Long-term debt	—
Stockholders' deficit	(4,043		)
Total liabilities and stockholders' deficit	$	5,381


Total carrying value	$	—


(1)	Includes Acquirgy (in which Actua's voting ownership is 25%).

Results of Operations (Unaudited)



	Three Months Ended			Nine Months Ended
	September 30, 2014 (1)
	(in thousands)
Revenue	$	1,421		7,229

Net income (loss)	$	(548	)	(1,186	)


Equity income (loss) excluding impairments and
amortization of intangible assets	$	(96	)	(632	)
Amortization of intangible assets	(48		)	(144	)
Total equity income (loss)	(144		)	(776	)


(1)	Includes Acquirgy, which ceased operations in 2015, and CIML, LLC (“CIML”), which ceased operations in 2014.

Cost Method Businesses

Actua’s carrying value of its holdings in cost method businesses was $18.1 million and $17.7 million as of September 30, 2015 and December 31, 2014, respectively. Those amounts are reflected in the line item “Equity and cost method businesses” in Actua’s Consolidated Balance Sheets as of the relevant dates.

Actua owns approximately 9% of Anthem Ventures Fund, L.P. (formerly eColony, Inc.) and Anthem Ventures Annex Fund, L.P. (collectively, “Anthem”), which invest in technology companies. Actua acquired its interest in Anthem in 2000 and currently has no carrying value in Anthem. Accordingly, the receipt of distributions from Anthem by Actua would result in a gain at the time Actua receives those distributions.

During the nine months ended September 30, 2015, Actua received a distribution from Anthem that resulted in proceeds of $1.0 million, and recorded a gain in that amount that is reflected in the line item, “Other income (loss), net” in Actua’s Consolidated Statements of Operations for the nine months ended September 30, 2015.

Impairments

Actua performs ongoing business reviews of its equity and cost method businesses to determine whether Actua’s carrying value in those businesses is impaired. Actua determined its carrying value in its equity and cost method businesses was not impaired during the nine months ended September 30, 2015 and 2014 or the year ended December 31, 2014.